News 

Egypt, South Korea agree to boost cooperation over creative industries

“The Ministry of Communication and Information Technology agreed with the Korean embassy to Egypt on boosting joint cooperation in the fields of technology and creative industries over the second edition of the K-Creative Content forum which kicked off on Wednesday” writes Hagar Omran for dailynewssegypt.com. Korean companies are leading players in communication technology while Egypt enjoys a huge demand on this domain, the South Korean ambassador to Egypt, Yeocheol Yoon, mentioned during forum’s inauguration. “Korean innovators are creating games, characters, and educational software to enrich the life of humanity in…

Read More
Markets News 

9% increase in Egypt’s engineering exports in 1Q FY2020

“Exports from engineering industries during the first quarter (Q1) of fiscal year (FY) 2019/2020 witnessed an increase of 9% reaching $636m, compared to $587m during Q1 FY 2018/2019” writes Shaimaa Al-aees for dailynewssegypt.com. They are also working on a database containing technologies that Egyptian factories can take advantage of to broaden their exports.So far, the project has been building the capacity of 100 engineering companies in the areas of identifying business development opportunities, innovation, and product development, as well as including  25 Egyptian companies that are preparing market plans for…

Read More
News 

Egyptian tycoon Abou El Enein plans to invest EGP 3.5bn over next three years

“Egyptian tycoon Mohamed Abou El Enein told Daily News Egypt that he plans to invest EGP 3.5bn in Egypt during the coming three years” writes Nihal Samir for dailynewssegypt.com. He also suggested to adopt partnership agreements in the manufacturing sector similar to the agreements in the oil and gas sector, to attract further investments.He assured that Egypt has a lot of capabilities, assuring that industry is considered the main driver of the economy.He added that increasing the private sector’s involvement in the Egyptian economy is very important, explaining that this…

Read More
News 

Egypt, UAE set up a $20bn investment partnership during Al-Sisi’s visit to Abu Dhabi

“The United Arab Emirates (UAE) and Egypt agreed to launch an investment partnership between the two countries at a value of $20bn, Presidency Spokesperson, Bassam Rady announced on Thursday” writes Daily News Egypt for dailynewssegypt.com. THARAA was established to stimulate investment with an authorised capital of EGP 200bn, expected to be increased to EGP 1trn in the coming period. Source: dailynewssegypt.com

Read More
Markets News Platforms 

FBS CopyTrade App Was Awarded as The Best Copy Trading Platform

“In the app, users can create their own portfolios and use multiple filters and stats to find the best Traders to copy” writes Finance Magnates Staff for financemagnates.com. Egypt Investment Expo is an annual event aimed to introduce the best financial opportunities to the investors in Egypt and the Arab world.In late October, the investment community of Egypt gathered at the biggest financial event – Egypt Investment Expo 2019.FBS developers released many updates over the course of the app’s history, and the “Best Copy Trading Platform” award seems to signify…

Read More
News 

Egypt negotiates with 3 Gulf SWF to set up mutual fund: Egypt’s SWF CEO

“The authorized capital of the Sovereign Fund is EGP 200bn, while the issued and paid up capital is EGP 5bn” writes Nevine Kamel for dailynewssegypt.com. Ayman Soliman said that the management of the fund is currently in negotiations with three Gulf sovereign funds to set up mutual funds, of which two might be announced before the end of this year.We are currently building a database of all opportunities that the fund will offer to investors,” he added.With regard to market exit procedures, all exit tools will be available to investors…

Read More
News 

Egypt seizes 3rd place in Mastercard’s MENA region businesses

“Mastercard believes that digital transformation is a priority on the Egyptian agenda, which will drive positive change in the country, he commented” writes Hagar Omran for dailynewssegypt.com. Egypt’s efforts toward digital transformation are outstanding, he asserted, noting that he held a recent meeting with Egyptian government officials where he assured that the digital transformation efforts in the country are tangible and notable across the MENA region. Source: dailynewssegypt.com

Read More
News 

First Egyptian-French startup competition sees 300 participants 

“They will also benefit from numerous business acceleration support provided by partners and sponsors of the competition” writes Daily News Egypt for dailynewssegypt.com. This competition is made possible by the support of more than 15 French companies among which Axa, Crédit Agricole, Orange, Schneider Electric, Danone, Sanofi and Valeo, having extensive experience in these three sectors.This competition aims to identity Egyptian start-ups with a high potential for growth having the ambition to become the next leaders of the digital transformation in three priority sectors of cooperation between France and Egypt:…

Read More
News 

IMF spends $520bn annually to finance sustainability: EGX Chairperson

“According to the EGX Chairperson, in 2010 companies listed on EGX 30 have already applied the criteria of sustainable development” writes Bassant Mohammed for dailynewssegypt.com. Achieving the Sustainable Development Goals is costly, the International Monetary Fund spends $520bn annually to finance sustainability, so the government has to fill the gap to benefit from these aids, said Mohamed Farid Saleh, Chairperson of the Egyptian Stock Exchange (EGX). Source: dailynewssegypt.com

Read More